Vinva Investment Management Ltd Buys 92,379 Shares of Incyte Corporation $INCY

Vinva Investment Management Ltd raised its stake in shares of Incyte Corporation (NASDAQ:INCY) by 87.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,405 shares of the biopharmaceutical company’s stock after purchasing an additional 92,379 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.10% of Incyte worth $13,565,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new stake in shares of Incyte during the 1st quarter valued at about $26,000. FNY Investment Advisers LLC bought a new position in Incyte in the second quarter worth about $27,000. Hilltop National Bank purchased a new stake in Incyte in the second quarter worth about $37,000. SVB Wealth LLC purchased a new stake in Incyte in the first quarter worth about $39,000. Finally, Geneos Wealth Management Inc. boosted its position in Incyte by 350.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 588 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Up 0.1%

Shares of NASDAQ:INCY opened at $105.65 on Thursday. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $93.36 and a two-hundred day simple moving average of $80.53. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $109.28. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.61. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. On average, research analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the sale, the executive vice president owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 4,227 shares of company stock valued at $396,327. 17.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Stifel Nicolaus upped their price target on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Oppenheimer downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Finally, Barclays raised their price objective on Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.85.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.